This is what I see in the Forex the week of December 4th , 2022: USDX, EU,UJ,GU,AU
Note:
USDX: Bearish: We are in a 5th wave in a (bearish) trend. A continuation here would most likely take out the 1.000 Fibo @ 103.462. The pairs should prove it out when the market opens. All of this could change in a heartbeat and will affect the currencies below. ATR’s are lower than last week. BE SMART - TRADE WITH STOPS!!!!
#EURUSD
What ProAct Traders See: Bullish : We are currently @ 1.0542 in a 5th wave. We are looking to continue to the Day chart top @ 1.0804 area. We have divergence so watch for a hard bounce. Watch the USDX for reversal and direction. The ATR for the pair currently is 110 pips.
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#USDJPY
What ProAct Traders See: Bearish: We are currently @ 134.33 in a 5th wave. We are looking for a move down to the 2.618 Fibo @ 127.64 and maybe the S9 @ 126.14. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 188 pips.
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#GBPUSD
What ProAct Traders See: Bearish: We are currently @ 1.2292 in a 5th wave and a trend. We are looking to finish the wave @ the Day chart top @ 1.2675. Watch the USDX for direction. The average daily true range (ATR) for the pair is 154 pips.
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#AUDUSD
What ProAct Traders See: Bullish: We are currently @ 0.6795 in the top of a range in a trend. We expect one more move to fulfill the wave pattern to the 1.618 Fibo @ 0.6946. Day chart top is @ 0.6993. Watch the USDX for direction. The average daily true range (ATR) for the pair currently is 87 pips.
CAUTION IS URGED - TRADE WITH STOPS!!!!!
